Saturday, March 7, 2009

"Toxic Waste" Defined

Toxic Waste Dump
















The above image is in the public domain in the United States because it is a work of the United States Federal Government. Source: Wikimedia Commons

I got you! You probably thought toxic waste referred to spent plutonium rods from nuclear power plants that still need to be buried in somebody's backyard in Arizona? No, that was the 1970's and Three Mile Island.

Today, the term Toxic Waste refers to troubled assets held by banks, such as bad mortgages, mortgage related instruments, and other debt-related products.